Friday, November 21, 2008

"As a result of the Company's previously announced voluntary inquiry into its historical stock option granting practices, which was concluded in 2006, the Company determined that an incorrect grant date was used in the granting certain options. As a result, the options were granted at an exercise price below the fair market value of the Company's common stock as of the correct date of grant. Consequently, employees holding these options face a potential tax liability under Section 409A of the Internal Revenue Code and similar sections of certain state tax codes, unless remedial action is taken to adjust the exercise price of these options prior to December 31, 2008."

1 comment:

Heysory to write to you like this, but i could not find the contact form. I really like your blog and i was wondering if you would maybe like a link exchange with my website www.sayeconomy.com. My site has many good articles and gets many new visitors each day. I think we would both benefit out of this exchange alot.

Next to link exchange i would like to offer you an option to publish some articles of yours about economy on my blog, send them to me and i will publish them. You can add link to your blog under each article and i will publish it as a source.

Well let me know on info@sayeconomy.com . I would really like a link exchange with your blog (i like it alot).

409A Dismay by Rich Meisner. I created 409A Dismay as a public arena for expression of dismay over complex executive tax rules. I am an attorney with over 19 years of experience handling executive compensation and employee benefit matters for large and small companies, executives, employees and ERISA plan participants. Feel free to contact me if you have information that you wish to publish on this blog, or if you have any questions or comments regarding 409A.